New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1887-06-26
AOUIET DAWN WALL STREET..
SLIGHT GAINS OVER FRIDAYS CLOSE.
JULY INTEREST ORDERED TO BE PAID BY SECRETARY

JULY INTEREST ORDERED TO BEPAlD BY sECisLihhi
FAIRCHIID-MR. GOULD TAKES HOLIDAY
wall Street Queter yesterday and the Hurry Oh
Friday left no wrecks behind 1t. Jay Gould did not
come to the city and the stock market recovered IN
most cases to close with small gains over tho
preceding nights close. There was an unusual num-
Der Of visitors to the gallery of the stock Exchange
I'm the expectation that some Of the exaggerated re-
ports regarding the stock tumbies Of Friday would
give them the sight Of an excited and bowling crowo
OF brokers. The visitors disappointed, for the
scenes ON the floor Of the Exchange were no more
unusual than they frequently are when spurts oi ac-
tivty occur. For the two hours Of business I'm"
TRANSACTIONS were considerably below the hourly
average of tho transactions ON the previous DAY.
There was some nervousness OF feeling among
brokers when they reached the Street, and general
relief was felt when the quotations VI the LONDON
stock market came, showing that Americans there
had been affected only 10 normal extent by Tho
decline here. The Now-YOrk market opened quiet
with most prices fIactionaIly higher than frdy night
In the next fifteen minutes fcverishncss was dc\ei-
oped by the so-calcd Gould stocks and when tl"
Missouri Pacific ran off Per cent from the hisp
price and Western Union followed by deciihe o'
nearly per cent the rest Of the list was soid "o"p
ON the fear that another raid might be renewed
Rates for money unsettled, ranging from . to
per cent but the quotations were practically nom
inal, because the engagements made Oh Friday COW
cred yesterday and sunday. by IL o CLOCK the mar
ket began to advance under the influence OF the
stitching Of the Gould stocks, and rFOrts were cir
cuatcd that Secretary of the Treasury would order
the prepayment Of July interest due OH Governments
bonds In order to Offset any attempted manipulation
Of the money market.
These reports were denied before the close Of
the market. Many hOldT5 OF bonds Ic-
ceived in their morning mail checks for interest Oh
registered bonds, and they presented them to tn.
SuD-Treasury for payment. The chechs were daleo
July l. but the Owners were informed that no orders
had been received for their prepay inent Consld
cradle disappointment was caused by THIS ana al ugh
feeling created by the circulation ny hc"r
agency of a Washington SPECIAL disiatch sa!ihs
the Secretary the Treasury yesterday that he would
not interfere long a. the stnngency III money Wa
Brokers were indignant at the inference attempted
TO be conveyed language that Wall street va
composed OF Pariahs who had no relation with the
rest Of the country, and that the iOehihg up "
money 10 iioIu msIpcss Interests some houses are
reported TO have Written TO Secretary fairchih, III
nortcd The answer was here, however, before Ia"
letters could be mailed but It was not generally
known because OF the early departure OF most brokers
from the street on account Of the saturday haI
holiday. At l O'Clock the Assistant Treasurer IL
pay July Interest Paci1cs and four per cents
on presentation Of checks and coupons, without r.
The news Of the Treasury's action did not spread
in time TO permit free presentation OF tho c1fohS
that had been received overnight. But some hOiaeir
OF checks registered four per cent bonds he.u o
the order in time 10 get their checks cashed anu t
heard of the expressed qualification at the pros
pect that the manIpuatoIs Of money would have any
"a op, iron, the Treasury The amount OF interest
dine ON July Is over 40 100000. The past pocS
Of the Department has generally been 20 demand :"
rebate when interest was anticipated, but in ne ne
nrc.ent instance the sum that the Government couin
save is so thrilling that Treasury officials sald ,ha II
would hardly pay for the clerical WORK oi eohPuVn'
The deduction TO be mad, and collecting II.
Jaw Could went on cruise up the HUDSON N.Y. Nv,
on his yacht yesterday instead OF coming to the cry
Ills friends and associates repudlatcd al Ideas oil a.,
reported connection with the break ana hh1d aIa,l n
that there had been any falling aut between MN anm
cyrus W. Field The general expression OF opinion mop
70
Ger y and while some Of them looked for possible
further quiet liquidation the majority yon ,h91gn T them ta
outIght or mt up plenty Of margins. There wa.
little attention attracted by Manhattan Hsrd IN S%
scale and while fluctuations were erIauc between
lao and 134 they were made only on o sa ne i ias
sale being . per cent above the INA insurc' VI
sri